Tokyo — Investors cheered a quick rebound at Sony’s semiconductor business and robust PlayStation sales, even as the Japanese electronics giant lowered its annual profit forecast because of a writedown in its movie division. The shares jumped 5% in Tokyo on Friday, the biggest gain since November 10, following gains in European and US trading. The electronics and entertainment company cut its operating profit forecast for the fiscal year until the end of March to ¥240bn, down from ¥270bn. But this was buffered by a ¥34bn higher revision at its chips business, a division whose business was disrupted by earthquakes in southwest Japan last year. The PlayStation 4 also had its best quarter to date. Earlier this week, the company pre-empted the earnings release by unveiling a ¥112bn charge against its film business, which has struggled due to a lack of box office hits. "Very happy with Sony’s results, very happy," said Amir Anvarzadeh, Singapore-based head of Japanese equity sales at BGC...
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